Petrobras Wins Two Offshore Blocks in Uruguay

1 July 2009 (Last Updated July 1st, 2009 18:30)

Petrobras (Petroleo Brasileiro) has won two blocks in Uruguay's oil and gas exploration and production bidding round, Reuters reported. The blocks are located in the Punta del Este basin off the Uruguayan coast. Block 3 is at a depth of 100 to 200m and Block 4 is 300km from the

Petrobras (Petroleo Brasileiro) has won two blocks in Uruguay's oil and gas exploration and production bidding round, Reuters reported.

The blocks are located in the Punta del Este basin off the Uruguayan coast. Block 3 is at a depth of 100 to 200m and Block 4 is 300km from the mainland at depths varying from 200 to 1,500m.

The tender, which was announced on 1 June 2009, included the Pelotas and Punta del Este offshore basins.

Petrobras will study the blocks for four years before it decides whether to start drilling, the company said.

Petrobras is operator of Block 4 and holds a 40% interest. YPF and Galp Energia are partners in the block, holding 40% and 20% interests respectively.

YPF is the operater of Block 3 with 40% interest. Petrobras and Galp Energia hold 40% and 20% interests.